A common misconception for people in debt is that they shouldn’t start saving until they pay off their balances. “The truth is, you need to save to become debt free,” says Andrea Woroch, a money saving and budget expert.

Although paying off debt is an important goal and necessary towards reaching financial freedom, saving money at the same time is critical.

Rethink your budget. See where you cut out extras like streaming services and other non-essentials and put that money in savings instead. You can also review monthly bills and negotiate rates with current providers, cancel unused subscriptions. “Tracking your daily and monthly spending can help you identify unnecessary spending and impulse purchases,” she adds.

If this still doesn’t give you much breathing room to save, think about how you can make some extra cash to put towards savings. 

For instance, she says, you can find freelance work through sites like UpWork or FlexJobs, provide virtual tutoring for $20 to $50 and hour through Tutors.com or make up to an extra $1,000 a month by pet sitting through Rover.com

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Harmony Evans is an award-winning author of Harlequin Kimani Romance, African-American romance, and so on. Harmony Evans is an award-winning author for Harlequin Kimani Romance, the leading publisher of African-American romance. Her 2nd novel, STEALING KISSES, will be released in November 2013. Harmony is a single mom to a beautiful, too-smart-for-her-own-good daughter, who makes her grateful for life daily. Her hobbies include cooking, baking, knitting, reading, and of course, napping and also review some of the best-selling and popular brands and services in the market and also write comprehensive blogs.


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